ATB Capital Forecasts Strong Price Appreciation for Ensign Energy Services (TSE:ESI) Stock

Ensign Energy Services (TSE:ESI) had its target price lifted by analysts at ATB Capital from C$4.50 to C$5.50 in a research note issued on Tuesday,BayStreet.CA reports. ATB Capital’s price target suggests a potential upside of 86.44% from the stock’s previous close.

Several other equities research analysts also recently issued reports on ESI. BMO Capital Markets raised their price target on Ensign Energy Services from C$3.25 to C$3.50 in a research report on Monday, November 4th. TD Securities lowered their target price on Ensign Energy Services from C$3.50 to C$3.25 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$3.71.

Ensign Energy Services Stock Up 6.9 %

Shares of Ensign Energy Services stock opened at C$2.95 on Tuesday. Ensign Energy Services has a 12-month low of C$1.94 and a 12-month high of C$3.19. The stock has a market capitalization of C$541.83 million, a P/E ratio of 24.58, a PEG ratio of 202.94 and a beta of 3.05. The company has a quick ratio of 1.30, a current ratio of 0.97 and a debt-to-equity ratio of 87.50. The stock has a 50 day moving average price of C$2.86 and a two-hundred day moving average price of C$2.53.

Insider Activity at Ensign Energy Services

In other Ensign Energy Services news, Director Donna Jeanne Carson acquired 17,443 shares of the company’s stock in a transaction dated Wednesday, October 16th. The stock was bought at an average price of C$2.87 per share, for a total transaction of C$50,061.41. Also, Senior Officer Brent John Conway sold 35,000 shares of Ensign Energy Services stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of C$2.86, for a total transaction of C$100,100.00. 44.90% of the stock is owned by corporate insiders.

About Ensign Energy Services

Ensign Energy Services Inc, together with its subsidiaries, provides oilfield services to the crude oil and natural gas industries in Canada, the United States, and internationally. The company offers shallow, intermediate, and deep well drilling, as well as specialized drilling services, including horizontal, underbalanced, horizontal re-entry, and slant drilling for steam assisted gravity drainage applications; and equipment and services.